Financing of Economic Development Through the Establishment of Fair and Equitable International Prices for Primary Commodities and Through the Execution of National Programmes of Integrated Economic Development

A/RES/623(VII)View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, published in 1953.

What subjects does this mandate have?

19 subjects

Capital Goods Commodities Commodity Prices Development Finance Economic Development Groups of Experts Import Restrictions Manufacturing Meeting Records National Income Price Stabilization Raw Materials Recommendations Report Preparation Standard of Living Synthetics Terms of Trade Trade in Commodities Wages

What’s in this document?

10 operative paragraphs

Recommends to Member States that :

Whenever governments adopt measures affecting the prices of primary commodities entering international trade, they should duly consider the effect of such measures on the terms of trade of countries in the process of development, in order to ensure that the prices of primary commodities are kept in an adequate, just and equitable relation to the prices of capital goods and other manufactured articles so as to permit the more satisfactory formation of domestic savings in the countries in the process of development and to facilitate the establishment of fair wage levels for the working populations of these countries with a view to reducing the existing disparity between their standards of living and those in the highly industrialized countries ;

Without prejudice to the recommendation contained in sub-paragraph (a) above, their governments should give serious consideration to all other aspects of the problem of undue fluctuations in the terms of trade;

Their governments should intensify their efforts to reduce restrictions on imports of primary commodities;

Recommends that governments co-operate in establishing multilateral as well as bilateral international agreements or arrangements relating to individual primary commodities as well as to groups of primary commodities and manufactured goods, for the purpose of:

.!~L Ensuring the stability of the prices of the said ~odities in keeping with an adequate, just and eauitable relationship between these prices and those of l·-goods and other manufactured articles;

C" ) " Safeguarding the continuity of the economic ~ __ , ocial progress of all countries, those producing as. well as those consuming raw materials ;

Recommends that the countries in the process of development should adopt and give effect to national programmes of integrated economic development conducive to the rational utilization of the proceeds of their primary activities, the absorption of their surplus active ~pulation and the improvement of their standards of bving ;

Requests the Secretary-General to include in the study being prepared in compliance with Economic and Social Council r~solution 427 ( XIV) an estimate of the financial repercussions which changes in the terms of trade between primary commodities and capital goods and other manufactured articles produce on the national incomes of countries in the process of development, and an analysis of the distribution of those incomes;

Furlh,r requests the Secretary-General to prepare, for submission to the Economic and Social Couna1 and to the General Assembly, a study on the impact of important synthetic products on the demand for natural primary products entering international trade;

Further requests the Secretary..General to ap- General Auembly-Seventh Sea.Ion

point a small group of experts of recognized authority on the subject to prepare, during 1953, a report on such practical measures as it may be advisable to adopt pursuant to the recommendations contained in subparagraphs (a) and ( b) of paragraph 1, and in paragraphs 2 and 3 of the present resolution, the report to be issued on the responsibility of the group of experts and to be transmitted to the General Assembly together with the Economic and Social Council's views thereon;

Further requests the Secret.,.: y-General to place at the disposal of the group of experts mentioned in the preceding paragraph the records of the discussions on this item during the seventh session of the General Assembly.

21 December 1952.

1 See Official Records of lht EconoMic and Social C011,u:il, graphed document E/22.lS/ Add. l.

Who adopted this document and its mandates?

What subjects does this mandate have?

What’s in this document?

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